Euro can die

[wyly]

Argentina was one small cog in a global system that didn't collapse. It was able to take advantage of that system in its recovery. So what if your currency is devalued if every other currency was worthless as well. All those investments, RRSP's and other pension plans, worthless. Try looking at a larger system like the Roman Empire. It's collapse was followed by the Dark Ages. Do you seriously think the whole world could go back to a barter system with no currency without chaos? Anyone who thinks they can foresee what would happen in the event of a global collapse is an idiot.

i agree on argentina but rome and the dark ages?...the dark ages weren't dark, it's a cultural myth we've assumed to be true, the fall of rome was economically irrelevant in regards to the "dark ages"...

[dre]

All of which were orderly transitions not the so eagerly anticipated by olp1fan. That's just asinine.

Well... they were SORT OF orderly. The first two that I mentioned were precipitated by banking crisis. The second one was actually pretty bad... thousands of banks failed and there was a prolonged depression.

[Wilber]

Well... they were SORT OF orderly. The first two that I mentioned were precipitated by banking crisis. The second one was actually pretty bad... thousands of banks failed and there was a prolonged depression.

Oh goody. Can't wait.

[wyly]

the richer are getting richer and poorer are getting much poorer

id rather try something else, this is just not working anymore

itll be hard for years but eventually it will be better

and you're how old? how many recessions and depressions have you lived through in your short lifetime?...honestly you have no concept of what you're wishing for...

[dre]

Oh goody. Can't wait.

You will have to wait a while still but not too long.

[Jack Weber]

You wanna live in a world of survival of the fittest a its basic level? What do you think destroying the world economy and starting over will entail, some kind of love in? Be careful what you wish for.

You've just described the free marketeer's utopia...

Some here would love to see a return to the Robber Baron era...

[Signals.Cpl]

I take back the comment about you not being stupid.

You made my day

[GostHacked]

I don't want to see the current system collapse, it does need a slight revamping, as well as sound regulation that is enforceable by leaders who have some freakin balls and integrity and would punish those abusing the system. But in the end what the hell do you replace it with? A global currency? Um not for me thank you. Gold standard? Copper standard?

I'd say we isolate ourselves more, get some protectionism in place and start doing things for ourselves. If the system is going to collapse (and it's seems by design it IS collapsing) then we need to jump that ship before it sinks.

So the cure for the Eurozone is to make a bigger economic zone with one currency. How's that working so far?

[dre]

I don't want to see the current system collapse, it does need a slight revamping, as well as sound regulation that is enforceable by leaders who have some freakin balls and integrity and would punish those abusing the system. But in the end what the hell do you replace it with? A global currency? Um not for me thank you. Gold standard? Copper standard?

I'd say we isolate ourselves more, get some protectionism in place and start doing things for ourselves. If the system is going to collapse (and it's seems by design it IS collapsing) then we need to jump that ship before it sinks.

So the cure for the Eurozone is to make a bigger economic zone with one currency. How's that working so far?

But in the end what the hell do you replace it with? A global currency? Um not for me thank you. Gold standard? Copper standard?

I think precious metal is a bad idea. Having national currencies is fine, but there should be an international unit of trade between nations like the Bancor, or IMF SDR's.

This system needs more than a few tweaks though. Its an utter failure.

[Guest American Woman]

I think precious metal is a bad idea. Having national currencies is fine, but there should be an international unit of trade between nations like the Bancor, or IMF SDR's.

This system needs more than a few tweaks though. Its an utter failure.

[dre]

I totally agree A-Dub! Great post. Clearly the rate at which M3 is increasing is unsustainable, and at some point all the money being dumped into the system by the trillions is going to manifest itself as inflation. We arguably already do.... Both food, and energy prices are increasing at much faster rates than the 2.7% inflation suggested by the CPI.

That just might be your best post ever!

Edited December 6, 2011 by dre

[Guest American Woman]

I totally agree A-Dub! Great post. Clearly the rate at which M3 is increasing is unsustainable, and at some point all the money being dumped into the system by the trillions is going to manifest itself as inflation. We arguably already do.... Both food, and energy prices are increasing at much faster rates than the 2.7% inflation suggested by the CPI.

That just might be your best post ever!